As aggregate interest increased, key hedge funds were breaking ground themselves. Ellington, managed by Mike Vranos, assembled the most outsized position in NCI Building Systems, Inc. (NYSE:NCS). Ellington had $0.7 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $0.7 million position during the quarter. The following funds were also among the new NCS investors: Neil Chriss’ Hutchin Hill Capital, Joel Greenblatt’s Gotham Asset Management, and Ken Brodkowitz and Mike Vermut’s Newland Capital.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as NCI Building Systems, Inc. (NYSE:NCS) but similarly valued. We will take a look at Net 1 UEPS Technologies Inc (NASDAQ:UEPS), Constant Contact Inc (NASDAQ:CTCT), Innophos Holdings, Inc. (NASDAQ:IPHS), and Saia Inc (NASDAQ:SAIA). This group of stocks’ market caps matches NCI Building Systems, Inc. (NYSE:NCS)’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| UEPS | 21 | 241741 | 2 |
| CTCT | 17 | 134366 | 1 |
| IPHS | 22 | 68600 | 8 |
| SAIA | 20 | 162892 | 9 |
As you can see, these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $152 million. That figure was $79 million in NCI Building Systems, Inc. (NYSE:NCS)’s case. Innophos Holdings, Inc. (NASDAQ:IPHS) is the most popular stock in this table. On the other hand, Constant Contact Inc (NASDAQ:CTCT) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks, NCI Building Systems, Inc. (NYSE:NCS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.
